Success Stories

We take a proactive approach when managing each and every client’s affairs. So what does that mean for you? What practical benefits will you gain from working with the O’Connells OBM team?

It is about more than just the debits and credits. We take great care of that side, but we also move beyond the standard services to implement a strategy that maximises your overall financial position. This ‘helicopter approach’ includes asset protection, wealth creation, business growth and tax and estate planning.

WINS WE HAVE ACHIEVED FOR OUR CLIENTS

Asset Protection - To better protect a client’s assets, rather than have a Trustee entity heavy with retained profits, we saw an opportunity to resign the current Trustee and introduce a new $2 company to protect $3.9 million worth of value away from any trading risk.

Corporate Beneficiary - By incorporating a new corporate beneficiary into a group with a new family trust as shareholder, we were able to increase distribution flexibility and potentially minimise top-up tax in the future.

Business Sale - A potential client came to us seeking advice on the capital gains tax implications on the potential sale of his business - he faced an $800,000 tax bill given the share structure of the company. While it was too late to correct the underlying structure issue, we were able to identify an alternative opportunity to reduce this client's tax bill by $300,000.

Structure Simplification - In reviewing the entities of two recently appointed clients, we were able to identify at least one entity (two in the case of one of the clients) that was now superfluous to the group and could be wound up). Striking off an entity allowed for a reduction in their accounting fees, along with a more simplified structure that was easier to understand.

Debt Recycling - By stepping back and looking at how a potential client's business had been funded, we saw an opportunity to recycle debt around the group to make what was non-tax-deductible interest now deductible, saving them $25,000 per annum.

Tax Minimisation - By getting to know our client and their family situation we realised a recurring $8,000 per annum tax saving for the family group by utilising their disabled son as an excepted person for Trust distributions. A wonderful saving that they could have been accessing for years prior if the right questions had just been asked!